Netflix almost died in 2011. It lost 800,000 customers overnight, and the company’s stock price cratered by 80%. Its customers, still reeling from the effects of the 2008 financial crisis, were counting every penny. This wasn’t the time for the company to lose their hard earned trust—but that’s what Netflix did.

To calm investor fears, Netflix’s stock price needed to stabilize. The road back required a gutsy and well thought out strategy with financial strength at its heart.